Current Affairs - International

India has been elected to serve on the United Nations Economic and Social Council (ECOSOC) for a two-year term from 2026 to 2028. ECOSOC is a principal organ of the UN that focuses on advancing sustainable development across economic, social, and environmental dimensions. The council plays a critical role in shaping policies and coordinating efforts among UN agencies to address global challenges, making India's election significant for its increased engagement in international economic and social governance.

The new Bangladeshi currency notes no longer include the portrait of Sheikh Mujibur Rahman, who is considered the founding father of Bangladesh. Instead, the notes now feature images of Hindu and Buddhist temples, national landmarks, and cultural artwork. This decision came in the wake of recent political changes following the ouster of former Prime Minister Sheikh Hasina, Sheikh Mujibur Rahman's daughter. The removal of his image marks a significant shift in national symbolism and political direction, reflecting the new government's effort to represent broader cultural elements rather than specific political figures.

India is partnering with Norway to build its first-ever indigenously manufactured Polar Research Vessel (PRV). The collaboration is between India’s Garden Reach Shipbuilders and Engineers Ltd. (GRSE) and the Norwegian firm Kongsberg. This partnership formalized through an MoU signed in June 2025, marks a significant step towards enhancing India’s capabilities in polar scientific research and maritime technology. The PRV will support polar and oceanic exploration under the National Centre for Polar and Ocean Research (NCPOR), advancing India’s self-reliance in polar missions and contributing to international scientific cooperation.

Karol Nawrocki emerged victorious in Poland's presidential runoff election as an independent candidate supported by the opposition Law and Justice party. He triumphed over Rafal Trzaskowski, the Mayor of Warsaw and candidate from the ruling Civic Coalition, who secured just over 49 per cent of the vote. Born in 1983 in Gdansk, Nawrocki is poised to take over the presidency from Andrzej Duda. His election marks a significant political development in Poland and indicates a shift in public sentiment toward the opposition-backed candidate amid evolving national and regional dynamics.

In 2024, Germany surpassed Japan to become the world’s largest creditor nation, ending Japan’s 34-year dominance in this category. The shift was primarily driven by Germany's rising current account surplus—reaching €240 billion—and favourable currency movements, particularly the appreciation of the euro against the Japanese yen. These factors increased the value of Germany’s foreign assets relative to Japan’s. Although Japan achieved a record net asset value, Germany’s higher growth and asset valuation led to a total of ¥569 trillion ($3.9 trillion), surpassing Japan’s ¥533 trillion ($3.7 trillion). This development reflects evolving global trade balances and investment flows.